Yeah not like a few years back when a "cheap" phone was God awful. Nowadays £250 gets you 120Hz, 64 Gig +sim, good chip, decent cameras etc etc
It's strange to look at it now as 5-10 years ago there were 3 tiers of phones
The shite tier - Nokia, wish.com knock offs etc
Mid tier - Oneplus, OPPO, Realme, xiaomi
The God Tier phones like Samsung, Apple, Huawei (pre google ban) etc
Now there really are only 2 tiers
God Tier and Mid Tier. Just the brands and prices have shifted
Oneplus is now not the Flagship killer any more but operate like they are god tier Samsung equivalents
Phones haven't really been hit as much by the silicon crisis that has hit the PC market because there has been a major shift in mobile processing power. The latest 5G snapdragon chips have been on paper less powerful than last years equivalents (but with 5G included). But consumers haven't complained about the difference. This allows the chip companies to get a better silicon efficiency whilst still maintaining their demand
Apple do fall out of this as they now supply their own chipsets for their iphones, ipads and imacs.
Also people aren't scoffing at seeing £1,000+ phones now. They aren't arsed about losing the headphone jack and packed in wall charger. The God tier will still dominate and they will still have queues when the iPhone 14 and Samsung 22 comes out next year. But the lower tier has a lot of space to operate.
*Should say that I still wouldn't pay £1000 for a phone (even over 12, 18 or 24 months) and am pissed off there is no more headphone jack and wall charger